USD/ZAR Technical Analysis: ranging bearish near bullish reversal
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, 09-07-2016 at 03:34 AM (1068 Views)
Daily price was bounced from 14.7479 resistance to below for 13.9516 support level as a target: The price is located below 100 SMA/200 SMA in the bearish area of the chart within the following support/resistance levels:
- 15.1978 resistance level located near and above 200 SMA in the beginning of the daily bullish trend to be started, and
- 13.1963 support level located far below 100 SMA/200 SMA in the beginning of the bearish trend to be resumed.
Thus, the most likely scenario for the price movement for September is the bearish ranging within the levels.